Korean Air Lines plans to aggressively invest in China as it intends to make the country its biggest overseas market in 2010, the carrier said yesterday.
The world's biggest international cargo carrier targets to achieve sales of about US$1.34 billion in China in 2010 after its revenue soared 20 percent in the country last year from 2005.
"China is rapidly developing into Korean Air's strategic key market for its future growth," the airline said in a statement. "The airline will actively invest in China to retain its leading role in the highly competitive international market."
Boosting its China presence and seeking strategic ties with Chinese carriers will help Korean Air to realize its target, it said. The airline flies on 25 routes connecting Chinese cities and has 21 sales offices.
It plans to open an additional 10 routes to China and to operate 30 offices nationwide in 2010, said the carrier.
The South Korean carrier is studying the possibility of opening new routes to cities like Ningbo in Zhejiang Province and Lijiang in Yunnan Province, and said it will fly to Nanjing, capital of Jiangsu Province, before August.
Korean Air now operates more than 150 flights weekly to 19 Chinese destinations.
The airline, which formed a joint venture with Sinotrans Air Transportation Development Co, a unit of Sinotrans, said it plans to deepen cooperation with Chinese airlines to better tap the market.
The carrier is expected to strengthen ties with China Southern Airlineson codesharing flights and frequent flier program.
(Shanghai Daily March 26, 2007)